DraftKings Inc. (NASDAQ:DKNG) saw an upside of 2.71% to close Monday at $27.29 after adding $0.72 on the day. The 5-day average trading volume is 10,427,561 shares of the company’s common stock. It has gained $29.25 in the past week and touched a new high 1 time within the past 5 days. An average of 15,392,780 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 11,789,898.
DKNG’s 1-month performance is -12.19% or -$3.79 on its low of $25.41 reached on 08/18/23. The company’s shares have touched a 52-week low of $10.69 and high of $34.49, with the stock’s rally to the 52-week high happening on 08/04/23. YTD, DKNG has achieved 139.60% or $15.90 and has reached a new high 37 times. However, the current price is down -20.88% from the 52-week high price.
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Insider Transactions
DKNG stock investors last saw insider trading activity on Aug 08.Robins Jason () most recently sold 300,000 shares at $32.10 per share on Aug 08. This transaction cost the insider $9,629,930., Kalish Matthew, sold 269,420 shares at a price of $32.10 on Aug 08. Then, on Aug 08, Liberman Paul sold 66,667 shares at a price of $32.10 per share. This transaction amounted to $2,140,306.
Valuation Metrics
DKNG stock has a beta of 1.84. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 4.19 while the price-to-book (PB) in the most recent quarter is 12.40.
DraftKings Inc.’s quick ratio for the recent period was 1.60, with the current ratio over the same period at 1.60. In terms of profitability, the gross margin trailing 12 months is 37.00%. The firm’s gross profit as reported stood at $756.19 million against revenue of $2.24 billion.
Earnings Surprise
Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -180.96% to -$77.27 million, while revenue of -$397.15 million was -413.98% off the previous quarter. EBITDA for the quarter stood at more than -$20.78 million. DKNG stock balance sheet for the recent quarter shows that total liabilities totaled 2.59 billion, with total debt at $1.32 billion. Shareholders hold equity totaling $856.99 million.
Let’s look briefly at DraftKings Inc. (DKNG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 21 August was 38.93% to suggest the stock is trending Neutral, with historical volatility in this time period at 71.67%.
The stock’s 5-day moving average is $27.18, reflecting a -7.05% or -$2.07 change from its current price. DKNG is currently trading -10.85% above its 20-day SMA, +54.97% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +6.77% and SMA200 by+65.90%.
Stochastic %K and %D was 11.47% and 7.38% and the average true range (ATR) pointed at 1.50. The RSI (14) points at 42.27%, while the 14-day stochastic is at 20.70% with the period’s ATR at 1.48. The stock’s 9-day MACD Oscillator is pointing at -1.11 and -2.25 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for DraftKings Inc. (NASDAQ: DKNG), JP Morgan upgraded it to a Neutral rating. They previously had an Underweight rating on the stock. Analysts offering their rating for DKNG stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate DKNG as a “sell,”, while 12 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 21 have offered a “buy” rating.
What is DKNG’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $22.50 and a high of $44.00, with their median price target at $37.00. Looking at these predictions, the average price target given by analysts is for DraftKings Inc. (DKNG) stock is $35.27.
